THE DEPRESSION WAS PLANNED FOR DECADES TO BRING IN A NEW WORLD ORDER!
PROBLEM REACTION SOLUTION!
JUST THE LATEST EVIDENCE THAT THE PRIVATE FEDERAL RESERVE AND TREASURY WORK FOR A "HIGHER AUTHORITY" THAN THE BARBARIAN CITIZENS OF THE USA!
11:16am: Rep. Gregory Meeks, D-N.Y., wants to know whether the administration's plan will cause multinational financial firms to "relocate resources internally" to skirt the toughest regulations. Geithner agrees that it's a problem and says that international coordination is necessary. There has to be a "new international accord on capital," and the outlook is positive for that actually happening, he adds.
11:18am: Meeks now wants to know how a systemic resolution authority would affect international components of companies. He cites the Lehman Brothers bankruptcy proceedings in London as an example.
Geithner: Each country has to change its laws and regulations.
Meeks: Are you talking about it at the G20 meeting in Pittsburgh?
Meeks: On the role of the IMF: What do you think about how the IMF could "play a greater role?"
Geithner: Well, it would be nearly impossible to giver the IMF more enforcement authority. But we're suggesting to get countries to commit to reforms to produce internal economic changes that the IMF can help affect.